The Securities and Exchange Commission (SEC) is planning further regulatory changes for crypto assets, with a particular focus on custody, according to SEC Chair Paul Atkins. This initiative follows the Senate’s failure to pass the CLARITY Act last month.
SEC Chair Paul Atkins stated that the agency is taking on the task of regulating crypto assets and is currently proposing a new regulatory framework specifically for the custody of these assets. While the exact details of this framework and the timing of future regulatory changes remain uncertain, the statements suggest an increased focus on regulatory scrutiny for crypto custody.
The CLARITY Act’s non-passage in the Senate last month precedes these developments. The SEC’s proposed regulatory framework for crypto asset custody is a key element of the agency’s current approach to the sector.
Why This Matters
The materials describe a narrow update: SEC Chair Paul Atkins stated that the agency is planning further regulatory changes for crypto assets, with a focus on custody. Specific details of the proposed regulatory framework for crypto asset custody.
Broader Context
Source materials place the factual news in this context: SEC Chair Paul Atkins’ statements come as the agency proposes a new regulatory framework regarding the custody of crypto assets. He stressed that the SEC is taking on the crypto-regulation task after the Senate failed to pass the CLARITY Act last month.
